Accounting · Basic Accounting Terms
In accounting, a business is considered to be in profit when:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Assets exceed expenditure
- 2Income exceeds liabilities
- 3Income exceeds expenses✓
- 4Assets exceed liabilities
Correct answer
Income exceeds expenses
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Basic Accounting Terms MCQs →Want more practice questions on Basic Accounting Terms?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Basic Accounting Terms